RBS losing money for the ninth year in a row
More bad news for RBS: The state-owned bank is being forced to set aside another $3.8bn (£3.1bn) to handle fines related to the subprime crisis.
The bank is expected to confirm the fine as early as today and will lead to RBS losing money for the ninth consecutive year.
It is thought that the bank has set aside $10bn to pay off its impending fines in the US.
Other banks that have paid fines to the US Department of Justice include Deutsche Bank and Credit Suisse that forked out $7.2bn and $5.3bn, respectively.
Bak in September, RBS agreed to pay $1.1bn to settle two civil law suits with the National Credit Union Administration Board.